The housing industry has blamed banks’ tight mortgage standards as preventing many potential buyers from being able to purchase a home. But a new survey by the Office of the Comptroller of the Currency shows that more banks are finally easing up on their standards, which may open the doors for more buyers to qualify for a mortgage.Learn more:
Friday, June 29, 2012
Thursday, June 28, 2012
Are Banks
Are Banks ‘Hoarding Foreclosures’?
Recent housing surveys are showing an uptick in home prices, particularly in cities in warm-weather “sand states” that had been hard-hit during the housing slump, such as in Phoenix, Las Vegas, Miami, and Tampa. But some housing experts worry that the lift in prices may be temporary due to banks “hoarding foreclosures.” Read more:
Wednesday, June 27, 2012
Case-Shiller:
Case-Shiller: Home Prices Up after 7 Straight Monthly Drops
By: Mark Lieberman, Five Star Institute Economist
The Case-Shiller Home Price Indexes rose for the first time in eight months in April. The 10- and 20-city indexes each rose 1.3 percent, to the highest levels this year. Year-over-year, the 10-city index was down 2.2 percent and the 20-city index off 1.9 percent, both improvements from March.Read more:
By: Mark Lieberman, Five Star Institute Economist
The Case-Shiller Home Price Indexes rose for the first time in eight months in April. The 10- and 20-city indexes each rose 1.3 percent, to the highest levels this year. Year-over-year, the 10-city index was down 2.2 percent and the 20-city index off 1.9 percent, both improvements from March.Read more:
Tuesday, June 26, 2012
Increasing your Credit score Part 1
Increasing your Credit score Part 1
Tips to help you....
June 25th 2012 Salt Lake Board of Realtors PODCAST. We sat down with Al Bingham, Senion Loan Officer for Republic Mortgage and author of the book 'The Road to 850' to discuss things Realtors should know and tips to help their clients with credit scores.. Read more:
Monday, June 25, 2012
Shortage of homes
Shortage of homes
Shortage of homes for sale creates fierce competition
With housing inventory at a low, would-be buyers are scrambling to bid on homes before they're even listed, and real estate agents are vying to represent the few sellers that do exist. Read more:
Saturday, June 23, 2012
10 Tips for
10 Tips for Saving Money in the Garden
Carefully plan and plot your garden to add value to your home and make the most of your time and money. So don’t impulsively drive to your garden center. Walk your land, consult an almanac, test the soil, and make a budget. You’ll save your back, your budget, and your home’s curb appeal. Read more
Friday, June 22, 2012
Mortgage Rates
Mortgage Rates Take Another Record Dive
By: Tory Barringer06/21/2012
After inching back up in the previous week, the 30-year fixed rate mortgage (FRM) has again plummeted to a new low, Freddie Mac reported Thursday. Read more..
Thursday, June 21, 2012
5 Biggest Mistakes
5 Biggest Mistakes
Home Buyers Make
Home Buyers Make
Some home buyers fall for common pitfalls when purchasing a home. How can you help make sure your clients don’t fall for one?
Credit.com recently featured some of the biggest mistakes home buyers often make. Their list included: Get the 5 mistakes here
Credit.com recently featured some of the biggest mistakes home buyers often make. Their list included: Get the 5 mistakes here
Wednesday, June 20, 2012
Home Building
Home Building
Picks Up in May
Groundbreaking for single-family homes edged up 3.2 percent in May, reaching its highest level since December, the Commerce Department reported Tuesday. Single-family construction is now up 26 percent from year ago levels, as the new-home market continues to inch toward recovery. Read more
Tuesday, June 19, 2012
Trim Your Remodeling Costs:
Trim Your Remodeling Costs:4 Ways to Save
1. Don’t change plumbing or electrical configurations. Keep your plumbing fixtures and electrical work where they’re at. Instead of moving the plumbing or electrical all over the room, Case recommends for remodelers to “think about supplementing and extending your existing wiring instead of ripping it out and starting over,” which can be much more costly.
2. Find savings in materials. “The cost of cabinets, counters, fixtures, paneling, etc. can constitute up to 70 percent of your remodeling budget,” Case Remodeling notes in its blog. “While labor costs may be hard to reduce, the choice of materials is within your control.” For example, solid surfaces can look similar to marble, and granite tiles may be an option over stone to curb costs.
3. Build up, not out. You’d be better off adding stories or building upward than expanding those rooms outward on the lower floor, according to Case Remodeling. Adding another story to a home, like over the garage, can be cheaper than laying a foundation to extend a home out.
4. Consider energy efficient upgrades. By selecting energy efficient windows and appliances, you may have to pay a little more upfront but in the long-run, you’ll be saving. Energy efficient upgrades may be an item worth splurging on initially in order to cheapen your utility bills and the cost of operating your home.
Case Remodeling recently featured several ideas at its blog on how to make those remodeling projects more budget friendly. Here are a few ways to trim remodeling costs:
2. Find savings in materials. “The cost of cabinets, counters, fixtures, paneling, etc. can constitute up to 70 percent of your remodeling budget,” Case Remodeling notes in its blog. “While labor costs may be hard to reduce, the choice of materials is within your control.” For example, solid surfaces can look similar to marble, and granite tiles may be an option over stone to curb costs.
3. Build up, not out. You’d be better off adding stories or building upward than expanding those rooms outward on the lower floor, according to Case Remodeling. Adding another story to a home, like over the garage, can be cheaper than laying a foundation to extend a home out.
4. Consider energy efficient upgrades. By selecting energy efficient windows and appliances, you may have to pay a little more upfront but in the long-run, you’ll be saving. Energy efficient upgrades may be an item worth splurging on initially in order to cheapen your utility bills and the cost of operating your home.
Monday, June 18, 2012
Mortgage Rates End
Mortgage Rates End End Six-Week Streak of Record Lows
After six consecutive weeks of reaching all-time record lows, fixed-rate mortgages reversed course this week, starting to inch upwards, Freddie Mac reports in its weekly mortgage market survey.
Despite the slight uptick in fixed-rate mortgages this week, however, rates “remain near historic lows helping to keep home buyer affordability high, and providing a strong incentive for those looking to refinance,” according to Freddie Mac.
Here’s a closer look at rates for the week ending June 14:Read more
Despite the slight uptick in fixed-rate mortgages this week, however, rates “remain near historic lows helping to keep home buyer affordability high, and providing a strong incentive for those looking to refinance,” according to Freddie Mac.
Here’s a closer look at rates for the week ending June 14:Read more
Saturday, June 16, 2012
Sellers to Buyers:
Sellers to Buyers: Stop With the Lowball Offers!
Home buyers who are looking for big discounts on housing nowadays are finding that their lowball offers are no longer sticking with sellers, and that their offers are getting a flat-out “no” when they’re way below the asking price.
Another big mistakes home buyers are making in today’s changing housing market is that they are taking too long to make an offer, real estate professionals say, and because of that they are losing out on getting the house they want. The number of for-sale homes on the market nationwide has shrunk considerably in recent months, bringing out higher competition for properties, particularly for move-in ready homes. Read more
Another big mistakes home buyers are making in today’s changing housing market is that they are taking too long to make an offer, real estate professionals say, and because of that they are losing out on getting the house they want. The number of for-sale homes on the market nationwide has shrunk considerably in recent months, bringing out higher competition for properties, particularly for move-in ready homes. Read more
Thursday, June 14, 2012
Inventory of For-Sale Homes
Inventory of For-Sale Homes Falls 20% From Year Ago
The number of homes on the market continues to become a shrinking pool. Inventory of for-sale single-family homes, condos, townhomes, and co-ops dropped 20 percent in May compared to year-ago levels, according to data from REALTOR.com of 146 markets.
Inventories in May declined in all but two -- Philadelphia and Shreveport-Bossier City, La. -- of the 146 markets tracked by Realtor.com.
While inventories were on the decline, the median national list price was on the rise, inching up 3.17 percent in May compared to May 2011.
“These key indicators continue to suggest that the housing market is steadily moving along a path of stabilization and gradual recovery,” Realtor.com notes.
Inventories in May declined in all but two -- Philadelphia and Shreveport-Bossier City, La. -- of the 146 markets tracked by Realtor.com.
While inventories were on the decline, the median national list price was on the rise, inching up 3.17 percent in May compared to May 2011.
“These key indicators continue to suggest that the housing market is steadily moving along a path of stabilization and gradual recovery,” Realtor.com notes.
Sunday, June 10, 2012
More Americans Expect Home Prices to Rise
More Americans Expect Home Prices to Rise
More Americans are optimistic that home prices will inch up over the next year, with expectations that prices will rise at least 1.4 percent in that timeframe. That marks the highest amount ever recorded in Fannie Mae’s monthly National Housing Survey.
Thirty-four percent — also the highest ever recorded — of the 1,000 respondents in the May housing survey say they expect to see a boost in home prices in the next year. Forty-one percent say they think mortgage rates also will rise over the next year. Read more click on the link.
More Americans are optimistic that home prices will inch up over the next year, with expectations that prices will rise at least 1.4 percent in that timeframe. That marks the highest amount ever recorded in Fannie Mae’s monthly National Housing Survey.
Thirty-four percent — also the highest ever recorded — of the 1,000 respondents in the May housing survey say they expect to see a boost in home prices in the next year. Forty-one percent say they think mortgage rates also will rise over the next year. Read more click on the link.
Friday, June 8, 2012
Housing Crisis
Housing Crisis Didn’t Scare Americans Off Home Ownership
Seventy-five percent of Americans still aspire to own a home and consider home ownership a major life goal, according to a new poll of non-home owners aged 22 to 50 conducted by Integra Realty Resources, an independent real estate valuation firm.
Despite a housing crisis that saw housing prices drop in many markets, Americans’ enthusiasm for home ownership hasn’t lessened, according to the study.
The survey found that non-home owners under the age of 30 are even more positive about home ownership than older buyers: Forty-seven percent of respondents under 30 say owning a home is very important, compared to 41 percent of respondents over the age of 30.read more
Despite a housing crisis that saw housing prices drop in many markets, Americans’ enthusiasm for home ownership hasn’t lessened, according to the study.
The survey found that non-home owners under the age of 30 are even more positive about home ownership than older buyers: Forty-seven percent of respondents under 30 say owning a home is very important, compared to 41 percent of respondents over the age of 30.read more
Thursday, June 7, 2012
April marked the first rise in Utah's median home
April marked the first rise in Utah's median home
'Reductions in supply, expectations that home prices will rise, and changing attitudes toward foreclosures are contributing to the increased demand, especially among owner-occupants.
April marked the first rise in Utah's median home price in four years. See these statistics and more Utah housing data in this week's Podcast Connection. click on link to see how prices are moving up in Utah:
'Reductions in supply, expectations that home prices will rise, and changing attitudes toward foreclosures are contributing to the increased demand, especially among owner-occupants.
April marked the first rise in Utah's median home price in four years. See these statistics and more Utah housing data in this week's Podcast Connection. click on link to see how prices are moving up in Utah:
Wednesday, June 6, 2012
Zillow:
Zillow: Home Values See Highest Monthly Increase Since 2006
According to the April Zillow Real Estate Market Reports, national home values rose 0.7 percent in April to a Zillow Home Value Index of $147,300. This is the largest monthly increase in home values since January 2006, and it makes April the second month in a row in which home values climbed up.
According to the April Zillow Real Estate Market Reports, national home values rose 0.7 percent in April to a Zillow Home Value Index of $147,300. This is the largest monthly increase in home values since January 2006, and it makes April the second month in a row in which home values climbed up.
Tuesday, June 5, 2012
Looking for a Great Deal?
Looking for a Great Deal?
You don’t have to compete with buyers on foreclosures or short sales there are still great deals in “RESALE”.
Look at what buyers are purchasing with out competing with three to four offers on foreclosures or waiting for responses on short sales.
See what our Buyers are purchasing in today’s Market!
'Reductions in supply, expectations that home prices will rise, and changing attitudes toward foreclosures are contributing to the increased demand, especially among owner-occupants.You don’t have to compete with buyers on foreclosures or short sales there are still great deals in “RESALE”.
Look at what buyers are purchasing with out competing with three to four offers on foreclosures or waiting for responses on short sales.
Monday, June 4, 2012
FHFA: Q1 2012 HARP Refinances Double from Q4 2011
FHFA: Q1 2012 HARP Refinances Double from Q4 2011
By: Tory Barringer06/01/2012
The number of loans refinanced through HARP in the first quarter of 2012 was nearly double the number of refinances in the fourth quarter of 2011, according to the Federal Housing Finance Agency’s (FHFA) March 2012 Refinance Report released Friday.
The report showed that 180,185 loans were refinanced through HARP during the year’s first quarter, nearly twice the 93,190 refinances in the previous quarter. The month of March alone saw 79,470 loans refinanced with HARP, and nearly one in seven loan refinances in the quarter were done through program.
By: Tory Barringer06/01/2012
The number of loans refinanced through HARP in the first quarter of 2012 was nearly double the number of refinances in the fourth quarter of 2011, according to the Federal Housing Finance Agency’s (FHFA) March 2012 Refinance Report released Friday.
The report showed that 180,185 loans were refinanced through HARP during the year’s first quarter, nearly twice the 93,190 refinances in the previous quarter. The month of March alone saw 79,470 loans refinanced with HARP, and nearly one in seven loan refinances in the quarter were done through program.
Sunday, June 3, 2012
6 Ways to Spruce Up a Home With Staging
6 Ways to Spruce Up a Home With Staging
Studies have suggested that staged homes sell faster, and as such, more sellers may be willing to give it a try.
So what are some staging ideas for sprucing up a property? Thomas Rouse, a design producer at “Extreme Makeover: Home Edition,” offered the following tips in a recent article in The Wall Street Journal.
So what are some staging ideas for sprucing up a property? Thomas Rouse, a design producer at “Extreme Makeover: Home Edition,” offered the following tips in a recent article in The Wall Street Journal.
Friday, June 1, 2012
Home Affordability Pushed Higher as Rates Fall
Home Affordability Pushed Higher as Rates Fall
For the fifth week, fixed-rate mortgages reached new all-time lows. The 15-year fixed-rate mortgage dipped below 3 percent, settling into uncharted territory, according to Freddie Mac’s weekly mortgage market survey. Thirty-year fixed-rate mortgages also reached new record lows, continuing to stay under 4 percent and pushing home buyer affordability even higher.
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